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Do Ir As Take Cash Out Of Uncle Sam's Pocket?


Readers Report

DO IRAs TAKE CASH OUT OF UNCLE SAM'S POCKET?

Regarding to your article "IRAs: No spur to net savings" (Economic Trends, Jan. 9), it gets tiresome to read such statements as: "IRAs clearly cost the U.S. Treasury money." IRAs don't cost the Treasury money, they merely delay the collection.

On the subject of people simply shifting savings, this is no doubt true. But the character of the shift is probably short-term money in savings to long-term types of investments. And even if it isn't, what's wrong with building up the Treasury Dept.'s nest egg?

Frank P. Ferrentino

Bloomfield, N.J.


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